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Author: Monty

  • Five tips when researching for a housing cooperative

    Readers Question: What is a housing cooperative? Monty’s Answer: When researching for a housing cooperative here are five tips. A housing cooperative is a form of ownership that creates an interest in an abode through stock ownership in a company, as opposed to a deed to a parcel of real estate. It could also be…

  • Retirement Home Search Requires Effort

    Reader Question: My wife and I are getting closer to retirement, and we can go anywhere we want in the USA. We want to find the right lake or mountain home. I am looking for a single agent/source to help us find what we want anywhere in the USA. I am discovering that real estate…

  • Who invests in commercial real estate in America?

    Reader Question: I am researching commercial real estate. Who invests in commercial real estate in the US? Monty’s Answer: The definition of commercial real estate is buildings owned by an investor or investors to generate income from rent. According to the National Association of Real Estate Investment Trusts (NAREIT), the total size of the commercial…

  • Homeowner Seeks To Nullify An Easement

    Reader Question: I have a question regarding easements. I own a home built in the late 1920s. The original owner created an easement agreement with one neighbor next door. Nearly eighty years later I tried to dissolve the easement and told I could not, that my current neighbors would need to agree to terminate it…

  • My partners won’t buy my share. What can I do?

    Reader Question: I inherited a large commercial rental property along with my three siblings. I would like it to be sold, even at a much lower price, and they do not. Is there any way for me to get out of this partnership and receive money, according to what my share is worth now? Monty’s…

  • Four Tips To Find Lost Closing Statements

      Reader Question: How do I find lost closing statements for a property I sold in 2004 in a 1031 exchange where the title company and 1031 companies are gone, the real estate agent is deceased, her company no longer has any records, and the mortgage company no longer has those records? Monty’s Answer: Fifteen…

  • Deciding If A Home Improvement Is Worthwhile

     Reader Question: I have a condo unit facing an empty residential lot which has a stockade fence bolted on top of an eight-foot-high concrete wall. My second-floor unit is level with the top of the wall and all of the fence. I believe the terrible condition of the fence and the fact that my deck…

  • Dealing With A Municipality Issue

    Reader Question: We are dealing with a municipality issue. We have a big problem with a new fire code dictating new elevations and width measurements of the easement road which currently services eight homes. Our real estate agent discovered it answering a prospect’s question about fire codes. We requested a variance in this provision in a…

  • Landlord confused by agent’s rent-up procedures

      Reader Question: We are confused by our agent’s rent-up procedures. We rented our home to a couple who gave us a month-and-a-half for security. They also paid their real estate agent a months rent. Their agent split the month’s rent with our real estate agent. However, we didn’t get a months rent before our tenants…

  • Novice investor needs help with where to start

    Reader Question: I would like to get a home ready to rent but I don’t know where to start. I am a novice investor. Structurally the house is sound, but it has been neglected and needs to be cleaned up! The kitchen and master bathroom needs updating, and an in-ground pool and fencing need to…

  • Home Seller Seeks Negotiation Advice

    Reader Question: I need negotiation advice. ​I own a duplex and occupy one of the units. I have accepted an offer from a buyer for the property. My tenant’s lease extends eight months past the date of closing. I have negotiated a rent back to stay in my unit until the end of my current tenant’s…

  • Should a Homeowner Allow Others to Use Property

    Question: Should I as a Homeowner Allow Others to Use Property I own? I own a home that sits on about one-and-a-half acres that is very close to a high school. The back part of my plot is a twenty thousand square foot plot that was a fallow cornfield when we moved in. The agricultural…

  • Are real estate appraisals flawed?

      Reader Question: ​Why do​ appraisals use comparative analysis as a means for valuing a home? This approach is flawed as most of the time they do not take into consideration the upgrades one has made in their home, plus the layout of the yard and landscaping that enhances one’s home. Why don’t they use…

  • Unsold home frustrating – should we give up?

    Reader Question: We want to sell our house to move closer to our families. Our home was listed two months ago. We interviewed multiple agents, and all agreed the house would sell fast because of the price range and the excellent neighborhood. We set the price toward the low end to sell quickly. Several people…

  • Four money traps with home additions or remodeling

      Reader Question: We have enjoyed our home for over five years. In addition to great neighbors, we like the neighborhood amenities, the convenience, and proximity to work. However, we need more room as our family has grown. We are well situated financially, but we do not want to have wasted capital when we sell…